Two of the internet’s largest video studios announced Tuesday that they intend to merge to form a new company targeting 12-34-year old consumers.
Alloy Digital and Break Media said that the new company would be called Defy Media, and will have more than $100 million in annual revenue.
Alloy Digital CEO Matt Diamond will assume the same role at Defy, while Break Media’s Keith Richman will become president. Alloy’s 200 employees are based in New York City, while Break Media’s 170 staffers are in Los Angeles.
Alloy is one of the largest of the YouTube multichannel networks on the video sharing site, reaching more than 95 million unique users each month. Alloy’s properties include both the Smoosh and Clevver families of channels.
Break is backed by Lionsgate, and reaches an estimated 70 million unique users per month. It is best known for its Break.com comedy site.
Read more: Variety
Brief Take: Amidst other merger activity, Alloy and Break are scaling up to fight for a spot atop the small but growing online originals heap.